IC - Lemur not core14 Nov 2018 11:38
https://www.investorschronicle.co.uk/shares/2018/11/14/bushveld-minerals-set-to-streamline/
Another doubling in the shares would be in keeping with Bushveld’s recent ascent: the stock has quintupled this year, after a rise of nearly 250 per cent in 2017.
During that time, one of our major reservations about the company has had nothing to do with the vanadium market. Specifically, and considering the group’s push to explore the potential for vanadium’s role in energy storage, we have failed to understand its parallel strategy to develop a $200m thermal coal project in Madagascar, via its stake in Lemur Holdings.
That may be about to change. Asked whether its shares might attract a premium if it dropped its exposure to coal, the company told us the following: “Whilst continuing to support Lemur Coal with its power and mine BFSs [bankable feasibility studies] and its funding discussions ahead of construction, Bushveld sees its long-term relationship with Lemur Coal as non-core.” The group added that it would support Lemur in its efforts to become an independent company.